Solana News: Historic Governance Participation and Key Proposal Outcomes

In a significant development for the Solana blockchain, its governance process has witnessed unprecedented participation in two crucial proposals, marking a historic milestone for the cryptocurrency. Here’s a closer look at the outcomes of these proposals and their potential impact on Solana’s future.

Solana Governance Sets New Participation Record

Solana’s governance process reached a historic milestone with unprecedented participation in two key proposals, SIMD-228 and SIMD-123. SIMD-228, aiming to address validator revenue distribution, failed to pass with 61.39% approval. Meanwhile, SIMD-123, addressing network inflation, passed with 74.91% support. The rejection of SIMD-228 preserves the current staking reward structure, while the passage of SIMD-123 could reshape validator incentives.

Solana Price Forms Rare Pattern: Potential 270% Surge?

Solana’s price has come under pressure over the past two months, dropping from its year-to-date high of $295.52 to a low of $112 this week. This decline has wiped out $71 billion in market value, bringing its market cap down from $139 billion to $68 billion. The ongoing crypto market crash, which has reduced the total market cap to $2.8 trillion, is one factor contributing to Solana’s price drop. Additionally, rising concerns about Solana’s ecosystem, particularly its increasing association with meme coins, have fueled the price decline. The market cap of all Solana meme coins tracked by CoinGecko has fallen from over $25 billion earlier this year to $7.7 billion, with many of these meme coins turning out to be rug-pull scams.

Solaxy Price Prediction: Will This Token Deliver or Disappoint?

Solaxy price prediction has become a hot topic among crypto enthusiasts. While Solaxy’s presale has generated buzz in the meme coin market, it’s important to look beyond the hype. Solaxy has positioned itself as a Layer-2 scaling solution on Solana, aiming to improve transaction speed for decentralized applications. As a Solana meme coin with utility, it’s drawing attention but the crypto market needs more than promises to succeed.

Pump.fun Ecosystem Loses 99% of Memecoins in Four Weeks

The excitement for memecoins on the Pump.fun platform, specialized in launching memecoins on the Solana blockchain, is drastically fading. The survival rate of tokens has fallen below 1% for four consecutive weeks, reflecting a growing disinterest from investors in this type of speculative assets. Since February 17, the ’graduation’ rate, referring to tokens that manage to pass the incubation phase to become fully tradable on a decentralized exchange Solana (DEX), has been lower than 1%. Even during its best period in November 2024, the success rate only reached 1.67%.